VantageSouth Adds Two Salisbury Locations to North Carolina Footprint
Community Bank of Rowan is now operating under a new name. The Salisbury-based bank will now be known as VantageSouth following the recent merger between the two banks that closed last month.
- Raleigh-Durham-Chapel Hill, NC (1888PressRelease) March 13, 2012 - Piedmont Community Bank Holdings, Inc., VantageSouth and Community Bank of Rowan announced today that Community Bank of Rowan has changed its name to VantageSouth. The change, which follows the recent merger between the two banks that closed last month, means there are now four VantageSouth branches statewide including two existing locations in Burlington.
"While the name is new, we want to reassure our clients that they will continue to recognize the honest, direct approach to community banking we've always provided," said Seamus Donaldson, local market president for VantageSouth (formerly Community Bank of Rowan) and a Rowan County native. "We remain fully committed to serving the banking needs of our clients and to the growth of this community."
Donaldson made the announcement earlier this morning to select clients at the VantageSouth on East Innes Street in Salisbury, speaking about the future of the bank under the new VantageSouth name.
Piedmont Community Bank Holdings, Inc. is working to assemble a best-of-the-best team of banking professionals to revolutionize business and personal banking across its footprint. Under its leadership, the bank is uniquely positioned to serve the needs of its clients, filling the gap between the small banks and the "mega banks." VantageSouth prides itself on delivering business and personal success to clients, in the financial world and beyond.
"We recognize that clients today are frustrated with huge, impersonal banks," said Steve Jones, president of VantageSouth. "We're proud to be based right here in North Carolina and are excited to offer VantageSouth clients the service they expect from a community bank, backed up with more capital and better resources."
The bank's deep, long-term dedication to the Rowan County community will not change, including its sponsorship of three signature events throughout the course of the year: the Salisbury Academy Winter Bloom, the Rowan Chamber Business Show and the Rowan Regional Medical Foundation Golf Tournament.
According to a study released last month by J.D. Power and Associates, acquisition of new customers by smaller banks and credit unions increased 2.2 percentage points to an average of 10.3 percent in 2012 from 8.1 percent in 2011. While only 32 percent of customers who selected a new bank because of promotional offerings said they definitely wouldn't switch banks again in the next year, up to 51 percent who chose a new bank because of good service experience or positive recommendations said they definitely won't leave within the next year.
About VantageSouth:
VantageSouth was established in 2006 and is headquartered in Burlington, NC. It currently serves Alamance and Rowan counties and the surrounding areas through four locations: Burlington (two) and Salisbury (two). Piedmont Community Bank Holdings, Inc., is the majority shareholder of VantageSouth.
About Piedmont Community Bank Holdings, Inc.:
Piedmont Community Bank Holdings, Inc. is a bank holding company based in Raleigh, NC. Piedmont was formed in 2009 by local businessmen Adam Abram and Scott Custer to build a strong community banking franchise across the Carolinas and Virginia. Abram serves as chairman of Piedmont's board of directors, Steven Lerner serves as vice chair and Custer serves as Piedmont's president and chief executive officer.
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